Cost accounting is a process that involves recording, analyzing, and reporting a company's expenses in detail. Unlike financial accounting, cost accounting is an internal process used only by ...

In previous columns, we have discussed using a "rental" method to allocate equipment costs for bidding and accounting purposes ... is an example of how the formula cited above can be applied.

Under cost accounting, there is always an allocation ... So, the denominator in your formula may be the total number of direct labor hours involved. Direct costs are any expenses that are directly ...

The formula for calculating inventory ... needing to pull historical records to determine the cost of goods sold. Though many accounting systems can automate this process, the bookkeeping ...